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Bengaluru, June 24: City-based I Monetary Advisory (IMA), which duped thousands of families, mostly Muslims, in the name of halal investment, has become a bitter reality of "we were robbed by our own people". All the accused except its CEO Mohammad Mansoor Khan have been released on bail in this ponzi scam worth thousands of crores of rupees.
The scam has not only been investigated by SIT and CBI, but it has reverberated many times in the Assembly, corridors of power, and in the courts.
Around 80,000 investors are in trouble after the Monetary Advisory (IMA) scam came to light. Many investors have left this world, many families have split, many marriages have broken down and many have become unemployed, homeless, helpless and hapless. One of the senior IAS office, who had faced arrest in the scam, reportedly killed himself just a day ago.
It has been more than a year since this multi-billion scam came to light. But the affected families still do not see any ray of hope. The government, led by senior IAS officer Harsh Gupta, has set up a special competent authority to address investor grievances in the matter.
According to information provided by Harsh Gupta, investors have to be paid Rs 2,900 crore. But the value of the company's assets seized so far could be around Rs 450 crore. The process of auctioning the assets has not started yet. The authority has developed an online portal for submission of claim forms from investors. But the process of taking applications has not started yet. Syed Gulab, a social worker overseeing the case, says that after all the claim forms have been submitted, we will get a clear picture about the exact number of investors and the total amount of arrears. But this process may take a few more months to complete.
Senior journalist Maqbool Ahmed Siraj says that IMA has systematically deceived people in the name of halal investment through capital scheme. In 2006, Muhammad Mansoor Khan, a one-time small businessman, set up a company. He began to attract large number of investors by creating the greed for more profit among middle class and poor people.
By 2015, the company had received money from more than 12,000 investors and continued to pay monthly profits. By the time the company closed in 2019, 80,000 people had invested their hard-earned money here. In Bengaluru, the company expanded its reach by investing in two major gold showrooms, hospitals, schools, several medical stores, a publishing center, a supermarket, and real estate firm.
Mr Siraj says that Mansoor Khan and his team not only lured the poor and middle class to pursue their own interests but also created a favourable atmosphere for their so called business by winning the hearts of politicians, government officials, clerics, religious institutions and media.
Unsuspecting people invested their money in a bid to make more profit in less time. When the company stopped making profits and Mansoor Khan suddenly fled on June 9, 2019, the investors woke up the to the reality.
Apart from residents of Bengaluru and other parts of Karnataka, people from Tamil Nadu, Andhra Pradesh, Telangana, Maharashtra other states also have invested their money.
Comments
SDPI CONTESTING THAT PLACES, THEY HAVE ALREADY SDPI STRENGTH, SDPI WILL GOT MLA SEATS.
Sdpi knows where to contest election and not to...This kind of torture is faced by minorities in every elections. Enough is enough we are tired of INC's fake promises. If you don't work for the welfare of the community you don't deserve to be elected.
No more threats on " if no Congress then BJP will come to power "
AWAAM KI JEET SDPI KI JEET
JAI SDPI
What is contribition for Minority past years. can u mention here.
every on know whom to vote.
Who are you "congress miniority cell" to ask this question?
what you contribution for miniroity since last 70 years?
answer is: Sachar Report that u gave us & Babri Masjid that u taken from us ( 2 important role muslims still suffering)
BJP is just for agenda for u,
We will support SDPI wherever we want
Its our choice now dont spoil Muslims name for your personal benefit
*"We are minorities, we cannot have our own representative.. even other parties are right in not fielding a candidate from minorities as the possibility of winning is very weak. So, why to waste a vote. Better to go with so called secular parties as before"*
These words often we hear here & there, every now & then. Such kind of opinion among our friends, family really pushes our morale down. We celebrated like as if we won, when the person we voted won. But everyone of us should ask ourselves *have we really won ?* We voted a party for years & years & *has the position of our community changed ??*
Leave aside the development & welfare promises, most important question is *are we secure in our own land ??*. Some people do ask *Why only SDPI ?* *Why can't we support a Muslim candidate from other parties ?* Yes we can support if he really does fight for welfare of the community. But we all have seen, we voted many times & sent them to speak for us. But our problems fell on their deaf ears & they became dumb when they really had to speak.So we don't have any expectation from them.Its time to know that we need one among us to represent us.So, that *our voice reach assembly & make a noise there*. it should alarm & awaken others who have been sleeping for years .Truth is that even a member can make other 100 tight lipped secular members open their mouth.One question will open door for 100 answers..Until somebody is there to cry & fight for us, we are not going to get anything. Remember the saying *crying baby only gets the milk*.
If one carefully analyse through the last assembly elections Muslim candidate have lost Muslims in Muslim dominated constituency. In many cases winning margin is thin as many independent Muslim candidates cutting through the votes. This may be the strategy of the BJP in coming assembly elections as well. Other factors are small regional parties lise SDPI which directly responsible for Congress to lose in Mysore Lok Sabha elections. MIM has cost nearly two dozen seat in UP is the worrying fact.
Congress is shedding tears now after losing 15 seats in Gujarat with a small margin. Had they spared couple of seats for BSP and NCP they would have easily won 13 seats ...‘As you sow, so shall you reap’.
Wake up INC & start discussing & shares the seats with growing , popular & true secular,agitative & politcal party SDPI or else it will be too late...
One SDPI MLA enter in ASSEMBLY will open mouth of all minority MLA , this time must go one MLA FROM SDPI,
Never ever one and only SDPI
Congress itself is the reason for failure in Gujarat, they didn't join hands or not ready to talk with BSP or NCP. while checking recent statements of ING party, it also going favor to soft Hindutva, instead of this let them join hands with SDPI to fight against saffronization or else they will pay for it as they did in Gujarat.
my opinion SDPI will win 2 to 4 seats with any party support in Karnataka this time, more than 40+ places chances of coming in the second place ... congress should make their strategy now and move on.. best of luck Cong+SDPI.
This is congress strategy till date, minorities especially muslims are well aware of all these tactis. Never they work hard or do anything for minorites rather they just show BJP as a devil and gain votes. Vote for all these secular parties with a clever startegy where they can be made victories. We can see that bjp is out of power and also see that along with congress 4-6 MLA from these parties enter assembly and make the changes.
On one hand Rahul Gandhi is instructing Karnataka Congress govt to stop so called "Minority Appeasement" and on other hand the Minority wing of Karnataka Congress is begging Muslims to stay away from Sdpi and MIM. This shows us Congress is not yet decided its stand on Muslims in coming MLA Election. Whereas SDPI has its stand very clear about contesting the elections with positive Political views. We will support SDPi wherever they contest for election. Whereas we ask Congress to alliance with SDPI in order to save BJP from coming into throne. Sdpi and Congress should be together to defeat BJP. Hence Congress should offer SDPI some of its seat. That will be clever move from Congress.
There is nothing new in KPCC Minority Wing's view, this is what Congress has been telling for almost 7 Decades. Why only SDPI & MIIM, why not JDS and other secular smaller parties, they too cause division of Muslim and secular votes. JDS has got many infulential Muslim figures such as Farook Bhai, Rauf Puttige and many from Coastal belt, then countless Muslim leaders from other parts of Karnataka. Are they not dividing Muslim votes.
I agree with Minority wing - hold discussion not only with SDPI & MIIM but other small progressive parties, thinkers such as Dwaraknathji, Bhaskar and about 15 such people who are decided to contest election this time, Congress should support them, not to field candidates against them. Let some more JIGNESH's come out from Karnataka, let us here different voice of revolutionary thinkers in the Assembly.
An Historical opportunity awaiting for Congress in Karnataka to silence Fascist forces. Dont blame or terrify Muslims, rather work strategically. The ball is in Congress Court!!!
To kick out all communal ; anti INDIA forces from our beloved NATION INDIA. All should unite and vote for the best secular party with ballots. Decline ; reject EVM system then only you can make impossible thinks to possible. Stand togehter and deman for BALLOT voting system then only you will aware who is for the country and who is not. At present there are big deal programs are going on behind screen with communal groups which INDIAN never experienced in the past. Now this is the right time and we the peace loving KARNATAK people to start. For the best government and ruling select qualified young energetic with good back ground. Don't support criminal and communal mind candidate.
We need our GREAT NATION to unite always and shine as number ONE in UNIVERS.
Jai Hind! Jai KArnataka !
They might have good ideologies. But people should recognize as a winning party.
otherwise no use. We dont have objection, if these New parites can win.
We know it will take many years to be strong enough to win in the election New parties
Better be smart, wise support to Congress, atleast much safer than BJP. otherwise you are answerable to your God for not using your brain.
May God bless.
Expression or Minority Wing of All India Congress Committee is quite correct, otherwise same Gujarat situation will prevail in Karnataka too. All Muslims should vote to a single party.
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